Major Portfolio Changes for Warren Buffett and Berkshire Hathaway

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Berkshire Hathaway Inc. (NYSE: BRK-A) released its public equity holdings as of June 30, 2014. Warren Buffett’s different portfolio holdings have not been changing much of late, but it turns out that many of the stakes were changed – some changes were substantial. There was one issue which also stood out handily ahead of this in the quarterly filing where Warren Buffett and team counted some $116.9 billion in equity securities in the investments as of June 30, 2014. This was versus $116.16 billion as of March 31 and versus $115.46 billion as of December 31.

We had also known going into this report that approximately 58% of the total value of the Berkshire Hathaway Inc. (NYSE: BRK-B) equity holdings was concentrated in just four stocks – Wells Fargo & Company (NYSE: WFC) at $25.4 billion; International Business Machines Corporation (NYSE: IBM) at $12.7 billion; and The Coca-Cola Company (NYSE: KO) at $16.9 billion; and American Express Company (NYSE: AXP) at $14.4 billion. That concentration was 56% in the prior quarterly report.

Another reminder needs to be made that some of the investments in key companies are no longer held in public shares. Berkshire Hathaway invested $3 billion when times were tough in 2009 into preferred shares of Dow Chemical Co. (NYSE: DOW).

One of the newer stakes as of the end of March was Verizon Communications Inc. (NYSE: VZ), and Buffett raised his stake in the telecom giant by the end of June. Buffett has not been a big telecom player before. There were many more changes made than we expected, although the total dollar changes were not so great. The $116.9 billion in June listed counts other stakes because this 13F filing shows the total value of these stocks as being $107.58 billion.

The full list of Warren Buffett and Berkshire Hathaway stock holdings as of June, 2014, is as follows: